Marshall Wace LLP Sells 10,707 Shares of Albany International Corp. (NYSE:AIN)

Marshall Wace LLP lowered its holdings in Albany International Corp. (NYSE:AIN - Free Report) by 79.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,770 shares of the textile maker's stock after selling 10,707 shares during the period. Marshall Wace LLP's holdings in Albany International were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AIN. Smartleaf Asset Management LLC grew its stake in Albany International by 306.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 667 shares of the textile maker's stock worth $53,000 after buying an additional 503 shares in the last quarter. Sterling Capital Management LLC increased its stake in Albany International by 735.6% in the fourth quarter. Sterling Capital Management LLC now owns 752 shares of the textile maker's stock valued at $60,000 after acquiring an additional 662 shares during the last quarter. Vestcor Inc acquired a new position in Albany International during the fourth quarter valued at approximately $70,000. Covestor Ltd lifted its stake in Albany International by 110.4% during the fourth quarter. Covestor Ltd now owns 888 shares of the textile maker's stock worth $71,000 after purchasing an additional 466 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Albany International in the 4th quarter valued at $88,000. Institutional investors and hedge funds own 97.37% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com raised Albany International from a "hold" rating to a "buy" rating in a research note on Thursday, April 17th. Robert W. Baird dropped their price objective on shares of Albany International from $104.00 to $92.00 and set an "outperform" rating for the company in a research note on Friday, February 28th. JPMorgan Chase & Co. decreased their target price on shares of Albany International from $75.00 to $74.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. Bank of America dropped their price target on Albany International from $80.00 to $75.00 and set an "underperform" rating for the company in a research note on Tuesday, March 25th. Finally, Truist Financial dropped their target price on Albany International from $88.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, April 17th. One analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Albany International has an average rating of "Moderate Buy" and an average price target of $80.40.

Albany International Stock Up 0.9 %

Shares of NYSE:AIN opened at $64.00 on Tuesday. The firm has a market cap of $1.98 billion, a P/E ratio of 20.00 and a beta of 1.37. Albany International Corp. has a 12-month low of $57.71 and a 12-month high of $95.47. The business has a fifty day simple moving average of $68.37 and a 200 day simple moving average of $75.89. The company has a quick ratio of 2.94, a current ratio of 3.68 and a debt-to-equity ratio of 0.36.

Albany International (NYSE:AIN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The textile maker reported $0.73 EPS for the quarter, beating the consensus estimate of $0.58 by $0.15. The business had revenue of $288.77 million for the quarter, compared to analysts' expectations of $300.74 million. Albany International had a return on equity of 12.20% and a net margin of 7.92%. The firm's revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. Analysts predict that Albany International Corp. will post 3.23 earnings per share for the current year.

Albany International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 21st were issued a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $1.08 dividend on an annualized basis and a yield of 1.69%. Albany International's payout ratio is currently 43.55%.

Albany International Company Profile

Albany International Corp., together with its subsidiaries, engages in the machine clothing and engineered composites businesses. The company operates in two segments, Machine Clothing (MC) and Albany Engineered Composites (AEC). The MC segment designs, manufactures, and markets paper machine clothing for use in the manufacturing of papers, paperboards, tissues, towels, pulps, nonwovens, building products, tannery, and textiles, as well as fiber cement and several other industrial applications.

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